Form 4: TD SYNNEX Officer Reports Stock Transactions and Power of Attorney Update
SEC Form 4 Filing
Michael Urban, Americas President at TD SYNNEX, reports stock acquisitions and disposals, while the company updates its power of attorney for Section 16 reporting.
Summary
- Michael Urban, Americas President of TD SYNNEX CORP, reported several transactions involving the company's common stock.
- On June 28, 2024, Urban acquired 246 shares at a price of $86.309 per share through the Employee Stock Purchase Plan (ESPP).
- On July 9, 2024, Urban acquired 3,130 shares and 2,672 shares at $0, and disposed of 9,904 shares at $113.99.
- Following these transactions, Urban directly owns 16,049 shares of TD SYNNEX CORP common stock.
- The company also updated its power of attorney, appointing David Vetter, Cheryl Grant, and Maribeth Bautista as substitute attorneys-in-fact for Section 16 reporting, effective March 19, 2024.
Sentiment
Score: 5
Explanation: The document primarily reports routine stock transactions and an administrative update, indicating a neutral sentiment.
Positives
- The reporting person's participation in the ESPP indicates confidence in the company's future performance.
- The update to the power of attorney ensures continued compliance with SEC regulations for insider reporting.
Industry Context
Insider trading activity is closely monitored in the technology distribution industry to ensure fair market practices and compliance with SEC regulations.
Comparison to Industry Standards
- Comparing Michael Urban's transactions to those of executives at similar companies like Ingram Micro or Tech Data could provide insights into industry-specific trends in executive compensation and stock ownership.
- The use of ESPPs is a common practice among publicly traded companies to incentivize employee ownership and align their interests with those of shareholders.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Substitution | David Vetter, Cheryl Grant, and Maribeth Bautista appointed as substitute attorneys-in-fact for Section 16 reporting. | March 19, 2024 | Ensures continued compliance with SEC regulations for insider reporting. |
Stakeholder Impact
- The reported stock transactions may have a minor impact on shareholder sentiment.
- The ESPP participation benefits employees by allowing them to acquire company stock at a discounted price.
Key Dates
| Date | Description |
|---|---|
| March 19, 2024 | Date of Substitute Power of Attorney |
| January 29, 2024 | Start date of ESPP purchase period used to calculate share price. |
| June 28, 2024 | Date of common stock acquisition via ESPP |
| June 30, 2024 | End date of ESPP purchase period. |
| July 9, 2024 | Date of common stock acquisition and disposition |
| July 11, 2024 | Date of signature for the report |
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